Funds Pledged for Oil and Gas Emissions Work

Today, I heard three Ministers of the Canadian Government announce an initiative that helps fund the development of innovative technologies in our oil and gas sector.
$100 million was announced to be allocated from the Strategic Investments Fund (SIF) to help the Clean Resource Innovation Network (CRIN) accelerate its work lowering the industry’s environmental footprint. Initiatives like CRIN, and the organizations from which it emerged – the Petroleum Technology Alliance of Canada (PTAC) and the Canadian Oil Sands Innovation Alliance (COSIA) – are making important advances that keep Canadian oil and gas producers at the forefront of the environmental frontier in reducing emissions associated with resource production.
Congratulations to CRIN for being recognized by the Government of Canada for all the value you bring to this important initiative.
This is a path our industry has been blazing for years. And this is the kind of investment where government can piggyback on the great work being undertaken by Canada’s oil and gas industry – a world leader in environmental protection, that keeps getting better.
I take note that this announcement is a repeat of the Government’s commitment from their 2019 Budget announcement – 19 months ago now.
At a time when the Government of Canada is shoveling funds out the door for industry-altering initiatives – that have dubious quantifiable environmental value – it is good to see them participate in a Canadian champion industry that has led the country in improving environmental outcomes.
What took so long? And how many times will we see this announcement repeated again?

 

Here is the news story:

Ottawa pledges $100 million to reduce oil and gas industry’s emissions

At least half of the funding is to go to small and medium-sized businesses

 

The Canadian Press

Oct 22, 2020  •  Last Updated 25 minutes ago

https://financialpost.com/commodities/energy/ottawa-provides-100-million-to-research-ways-to-cut-ghg-emissions-in-oil-and-gas

CALGARY — The federal government says it will provide $100 million from its strategic innovation fund over four years to accelerate the development and use of technologies to lower the oil and gas industry’s environmental impact.

Innovation, Science and Economic Development Canada says the money will be provided to the Clean Resource Innovation Network, a 1,700-member consortium of companies, not-for-profit organizations, government departments and agencies, researchers, academic institutions and economic development agencies.

It says CRIN will aim to use the investment to support research projects to reduce the sector’s greenhouse gas emissions by 100 megatons by 2033, the equivalent of taking 1.5 million cars off the road.

CRIN is to call for project applications in seven areas for activities related to ecosystem growth, enhancement and long-term sustainability.

At least half of the funding is to go to small and medium-sized businesses.

CRIN president Joy Romero, who is also the vice-president of technology and innovation for oilsands producer Canadian Natural Resources Ltd., says the funding is recognition of the innovation taking place in the energy sector.

“The federal government’s support will advance the development of clean technology, and CRIN will be an important network to help enable the transformation to a low-carbon energy future for the long term,” she said.

“This is about reducing our greenhouse gas footprint and developing technologies that can be transferable to other sectors in Canada and other producers globally.”\